Kralik v. 239 East 79th Street Owners Corp.

Order, Supreme Court, New York County (Marylin Diamond, J.), entered September 26, 2002, which granted defendant’s motion for summary judgment and declared plaintiffs not to be “holders of unsold shares” in the cooperative, unanimously affirmed, without costs.

Plaintiffs contend that they are holders of unsold shares by virtue of their compliance with paragraph 38 (a) of the proprietary lease. However, such a provision, alone, “does not create rights [as a holder], it merely extinguishes them” (Craig v Riverview E. Owners, 156 AD2d 157, 158 [1989]). There must also be compliance with…